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Chennai, Sept. 30 Polaris Software Lab Ltd has signed a definitive agreement to acquire SEEC Inc, a US-based product and component services company for insurance vertical. It will be an all cash deal. No further information has been disclosed.

Headquartered in Pittsburgh, SEEC also has a development centre in Hyderabad, according to information available in the company Web site.

Under the terms of the agreement, the Chennai-based software company has proposed to acquire SEEC US, including the intellectual property, business trademarks, trade brands and infrastructure facilities, according to a company release to the Bombay Stock Exchange.

Mr Arun Jain, Chairman and CEO, Polaris, said, “SEEC is an innovative company and well respected in the global marketplace. This deal forms the pivot of our growth strategy in the insurance space with access to thought leadership and intellectual property.”

SEEC helps the world’s leading insurance, healthcare and financial services firms to deliver a seamless customer experience across all products, channels and lines of business. Industry leaders such as New York Life, ICICI Prudential, Mutual of Omaha, and Bankers’ Life & Casualty, are some of its customers, the Web site says.

More Stories on : Mergers & Acquisitions | Software

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